in Trader University

Traders: When to Zig & When to Zag

paradox

 

  1. Be patient with winners letting them go as far as they can but be impatient with losers exiting when you are proven wrong.

  2. Be confident in your methods and system but doubt any single trade until it turns into a winner.

  3. Have complete faith in yourself being a successful trader but have no confidence in the market behavior, anything can happen.

  4. Leave the potential for profits open ended and let them grow large when given the opportunity but ensure all losses are small.

  5. Only date your stocks but marry your risk management.

  6. Learn all you can from mentors but only trade your own trading plan.

  7. Be open minded about where the market is going but be close minded about your trading plan and just follow it.

  8. Work really hard to learn how to trade when the market is closed but trade only when your entry parameters are met when the markets are open.

  9. Have what ever opinions you want but only trade price action.

  10. Be open minded on how you will make money in the markets until you find a system that fits your personality then be closed minded and follow it.